Adobe Inc. $ADBE Shares Sold by Boston Research & Management Inc.

Boston Research & Management Inc. decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 18.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,289 shares of the software company’s stock after selling 2,379 shares during the period. Boston Research & Management Inc.’s holdings in Adobe were worth $3,601,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after purchasing an additional 167 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Adobe by 25.5% during the second quarter. Sivia Capital Partners LLC now owns 2,394 shares of the software company’s stock worth $926,000 after purchasing an additional 486 shares in the last quarter. United Bank raised its holdings in Adobe by 12.8% during the second quarter. United Bank now owns 3,773 shares of the software company’s stock worth $1,460,000 after purchasing an additional 428 shares in the last quarter. Schnieders Capital Management LLC. raised its holdings in Adobe by 7.8% during the second quarter. Schnieders Capital Management LLC. now owns 2,630 shares of the software company’s stock worth $1,017,000 after purchasing an additional 190 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in Adobe by 190.6% during the second quarter. Gamco Investors INC. ET AL now owns 2,764 shares of the software company’s stock worth $1,069,000 after purchasing an additional 1,813 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Down 1.9%

Shares of Adobe stock opened at $233.38 on Thursday. Adobe Inc. has a 12-month low of $224.13 and a 12-month high of $416.39. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The stock has a market cap of $94.33 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 0.93 and a beta of 1.42. The company has a 50-day moving average of $245.79 and a two-hundred day moving average of $279.88.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.87 by $0.19. Adobe had a net margin of 29.48% and a return on equity of 64.48%. The company had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same period last year, the company posted $5.08 earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, research analysts anticipate that Adobe Inc. will post 19.14 EPS for the current fiscal year.

Adobe declared that its Board of Directors has authorized a share buyback program on Tuesday, April 21st that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to purchase up to 24.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe’s upcoming earnings could provide a catalyst if management shows Firefly and GenStudio are driving meaningful AI-related demand and improved guidance. Adobe Faces Make-or-Break Earnings Test as Traders Brace for Big Stock Swing
• Positive Sentiment: Some analysts and market watchers still see upside if Adobe can prove AI is becoming a real tailwind, rather than just a narrative, which could help restore investor confidence. Adobe Q2 Preview: Stock Near 7-Year Low, Market Expert Says Investors Want Proof ‘AI Is A Tailwind’
• Positive Sentiment: Options traders are pricing in a large post-earnings move, suggesting the stock could rebound sharply if results beat expectations and the outlook improves. Adobe Will Report Q2 Earnings Tomorrow. Options Traders Expect a 9.45% Move in ADBE Stock

Insider Buying and Selling at Adobe

In other news, CEO Shantanu Narayen sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the completion of the transaction, the chief executive officer directly owned 359,538 shares of the company’s stock, valued at $87,561,884.52. This trade represents a 17.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel Durn sold 1,336 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $248.02, for a total transaction of $331,354.72. Following the transaction, the chief financial officer directly owned 42,833 shares of the company’s stock, valued at approximately $10,623,440.66. This trade represents a 3.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 77,091 shares of company stock valued at $18,782,773. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the subject of several analyst reports. Royal Bank Of Canada set a $285.00 price target on shares of Adobe in a report on Monday. UBS Group cut their price target on shares of Adobe from $290.00 to $260.00 and set a “neutral” rating for the company in a report on Friday, April 17th. Wells Fargo & Company cut their price target on shares of Adobe from $420.00 to $405.00 and set an “overweight” rating for the company in a report on Monday, March 9th. KeyCorp cut their price target on shares of Adobe from $310.00 to $235.00 and set an “underweight” rating for the company in a report on Friday, March 13th. Finally, BTIG Research assumed coverage on shares of Adobe in a report on Monday, April 13th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seventeen have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $331.65.

Adobe Profile

Adobe Inc, founded in 1982 by John Warnock and Charles Geschke and headquartered in San Jose, California, is a global software company that develops tools and services for creative professionals, marketers and enterprises. Under the leadership of CEO Shantanu Narayen, who has led the company since 2007, Adobe has evolved from a provider of desktop publishing tools into a cloud-centric provider of digital media and digital experience solutions.

The company’s core offerings are organized around digital media and digital experience.